Hugh Hefner's Playboy magazine has turned down the offer of a nude photo shoot starring pop star
Britney Spears, it has been reported.
The National Ledger reported Britney wanted a "seven-figure" deal to strip for the iconic magazine, but Hefner was only willing to part with $US400,000.
Five years ago, at the height of her chart success, Britney was offered $2 million to star in Playboy.
A source told the Ledger that photos of Britney without underwear on taken by paparazzi, and her woeful performance at the MTV Video Music Awards, had lowered her asking price.
"Britney is truly delusional if she thinks anyone is going to pay giant bucks to see her nude," the source said.
"She's already bared too much flesh for free while out partying for that to happen.
"There was a time when Hef might have been willing to pony up, but that time has long passed."